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You are at:Home » Lufthansa profit drops after tough 2024
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Lufthansa profit drops after tough 2024

Gazet InternationalBy Gazet InternationalMarch 6, 20252 Mins Read
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Lufthansa’s operating profit plummeted by over a third in 2024. This capped a challenging year where spiraling costs, restricted access to Russian airspace, and aircraft delivery delays significantly impacted profitability.

European airlines struggled last year as inflation drove costs higher. Despite strong demand, shares dropped for most of the main carriers on the continent.

Sanctions prevented flights over Russia, also hurting carriers’ key routes to Asia.

Lufthansa initially targeted an 8% operating margin last year.

After issuing two profit warnings in the first half of the year, the group reported a much lower 4.4% figure. Costly strikes and lower-than-usual yields due to industry-wide capacity increases contributed to this.

Chief Executive Carsten Spohr stated, “Looking back, 2024 was a year of two halves for the Lufthansa Group. In the first six months, we still had to cope with a significant decline in operating profit.”

However, the airline bounced back in the second half of the year. Spohr noted a particularly strong fourth quarter.

Lufthansa reported adjusted earnings before interest and taxes of 1.65 billion euros ($1.78 billion) in 2024. While slightly above the 1.59 billion euros analysts estimated, it fell from 2.68 billion euros in 2023.

Lufthansa has vowed to turn around its core airline. The core airline posted an operating loss of 94 million euros, weighing on overall results.

The restructuring program at Lufthansa Airlines should contribute around 2.5 billion euros in gross profit by 2028.

The company calls 2025 a “year of transition”, during which cost-saving measures will not fully materialize.

However, the company expects “significantly higher” operating profit this year. The group’s newer City Airlines carrier effectively handles short-haul travel around Europe.

Lufthansa anticipates high demand for air travel. Bookings at the start of 2025 signal a positive trend.

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